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The School of Hard Knocks

The School of Hard Knocks

An average student packs his or her home with possessions worth more than £2,000, new research shows. Little wonder then that student digs are such popular targets for unscrupulous thieves. However, many young people at university leave themselves open to major losses. The reason for this is that almost one in three students has no insurance at all to cover them for burglary! Research has found that students in the UK keep more the £3.3 billion worth of possessions in their homes, which in turn means that more than £1.7 billion-worth of the items making up this total are uninsured!

In one way it is understandable that cash-strapped students may see home contents insurance as an extra expense that they can manage without. However, they need to think how they can possibly replace items such as mobile phones and laptops out of their own money should these items be stolen. Almost every student has a mobile phone with an average value of £152.13 and 94% of students own a laptop or iPad – at an average value of £515.14. Little surprise then that thieves target students – one in eight students is targeted by thieves each year, and the average value for a haul for these thieves is £200.

Assuming that a student is covered by mum and dad's home insurance could prove an expensive mistake if it turns out the policy does not cover them. Students MUST check that they have sufficient insurance cover in place – and indeed whether they have any at all! Not all home insurance policies cover students whilst in digs, and it pays to make sure that adequate cover is available. Don't automatically assume that the student's landlord has insurance for personal items either, the onus is on the tenant to make sure they have cover.

The right advice could save a whole lot of money. Talk to Westhill Insurance Services who can advise students on the options available. In simple terms, do the maths – a small outlay to protect expensive personal items is better than trying to replace the items themselves. University is supposed to be fun, don't let sneak thieves spoil it.

Contact Westhill Insurance Services, today.

Posted on 23rd September, 2010